MINNEAPOLIS — Supervalu  on Friday said it would pull its Shaw’s banner out of Connecticut this spring, selling 11 locations to members of the Wakefern  cooperative, another five stores to Stop & Shop  and seeking buyers for its remaining two locations. Terms of the sales, which are expected to be finalized in late March, were not released.
“While these decisions are always difficult, given the impact on associates and customers, they ultimately allow us to operate more efficiently and effectively within a highly competitive retail environment,” Pete Van Helden, Supervalu’s executive vice president of retailer operations, said in a statement.
Wakefern, the retailer-owned cooperative in Keasbey, N.J., said it would convert 10 of the stores to its ShopRite banner and one store to its discount PriceRite format to be operated by individual members. Currently, there are 13 ShopRite and eight PriceRite stores in Connecticut.
“The acquisition of these stores represents an exceptional growth opportunity for Wakefern and its members,” Joseph Colalillo , chairman and chief executive officer of Wakerfern, said in a statement.
Stop & Shop, based in Quincy, Mass., said it would acquire Shaw’s stores in Darien, East Hampton, New Fairfield, Newington and Vernon.
Wakerfern is to acquire stores in Canton, Clinton, East Hartford, Enfield, Fairfield, Hamden, Southbury, Stratford, Wallingford, West Hartford and Willimantic, reports said. Shaw’s would look for buyers for locations in Manchester and New Haven.
Supervalu said Shaw’s would continue to operate 176 stores in five New England states. It entered the Connecticut market in 1995 and at its peak operated 26 stores in the state.
Read More of Today's Headlines